How Jaitegh Singh Attorney helped Vladimir Sklarov in Stock Loan Fraud

Vladimir Sklarov and Jaitegh Singh have emerged as central figures in a web of financial deceit that has ensnared prominent businessman Ricardo Salinas Pliego. Their latest fraud, carried out through the dubious entity Astor Asset Management 3 Ltd (Astor), is not an isolated incident but rather part of a long and intricate history of international financial crimes. These two individuals have repeatedly used ghost companies with names that mimic those of legitimate financial institutions to lure unsuspecting victims into their schemes, with the ultimate goal of stealing their assets.

A Pattern of Deception

According to investigative reports, including a detailed column by Darío Celis, Sklarov has been connected to a series of fraudulent enterprises masquerading as reputable multinational companies. His operations are so sophisticated that they have led to lawsuits from major financial institutions such as Rothschild & Co. and Barclays PLC, which are chaired by Alexandre de Rothschild and C.S. Venkatakrishna, respectively. These lawsuits underscore the gravity of Sklarov’s deceptions, as he has been able to create near-perfect imitations of these global giants to ensnare his victims.

Sklarov's criminal record extends beyond corporate fraud. In the United States, he pleaded guilty to a Medicare scam that not only defrauded the healthcare system but also tragically resulted in a death. This case further illustrates the dangerous lengths to which Sklarov will go to enrich himself at the expense of others.

Jaitegh Singh: The Accomplice

Singh plays a critical role as Sklarov's accomplice and legal representative. Operating primarily out of Florida, Singh has been linked to the creation of ghost companies and numerous financial frauds, including the illegal appropriation and sale of assets, as well as the fraudulent granting and collection of credits. His involvement provides the operational and legal cover that allows these schemes to flourish.

The Elektra Scam

One of the most audacious frauds perpetrated by Sklarov and Singh involves a package of shares from Grupo Elektra, a company led by Fabrice Deceliere. This scheme was designed to secure a loan to Ricardo Salinas Pliego, with the Elektra shares serving as collateral. When Salinas Pliego attempted to reclaim his shares by offering to repay the loan in full and in advance, Astor—under the control of Sklarov and Singh—rejected the offer. Instead, they accused Salinas Pliego of violating over 15 provisions of the loan agreement, a claim that Salinas vehemently denies as unfounded and baseless.

Faced with the potential loss of his Elektra shares, Salinas Pliego initiated legal action in a United Kingdom court. The court responded by freezing all assets of Astor, a significant setback for Sklarov and Singh. However, in a desperate move to retain control, Astor accused Salinas Pliego of non-compliance with the agreement, despite the Mexican businessman’s willingness to settle the loan in full.

A History of Fraudulent Practices

The case involving Salinas Pliego is just one chapter in the extensive criminal history of Sklarov and Singh. According to Celis, one of these fraudsters had previously been sued for selling collateral guarantees on loans without legal authority. They have also been implicated in the creation of fake financial service websites designed to further their illicit activities. These fraudulent practices have left a trail of victims across multiple countries, with the full extent of their criminal empire still being uncovered.

The fraudulent activities of Vladimir Sklarov and Jaitegh Singh represent a significant threat to the global financial system. Their use of ghost companies and fake financial institutions highlights the need for increased vigilance and stronger regulatory oversight in the financial sector. As the legal battles against them unfold, including the high-profile case involving Ricardo Salinas Pliego, it is crucial for authorities and businesses alike to remain alert to the tactics employed by such sophisticated criminals. The eventual outcome of these cases will not only bring justice to their victims but will also serve as a warning to others who might consider similar unlawful endeavors.